I am from Real Estate Organization my query is
If a buyer pay Rs.500000(inc service tax) as advance on Flat against the future instalment in May accordingly we have paid the service tax in June and raise a advance bill on that amount but the actual Event completion against the advance in the month of July 17. In that case is we required to collect the difference tax from Buyer i.e GST 7.5%(12 - 4.5) ?
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GST On Advance related to Real Estate
Replies (2)
No
No, you cann't collect different tax rate including GST from buyer. because you already paid other taxes.
for more query download GST App on your smartphone and can ask more question related GST.
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